Citi provided a $63.5 million taxable participation loan
and provided the credit enhancement during the construction phase.
However, the bank's profits are off for the year so far, largely due to its losses stemming from a participation loan
to bankrupt energy company Worley & Obetz Inc.Its net income for the first nine months of 2018 is $2.3 million, down from $9.4 million for the first nine months of 2017.
o Provision for loan losses resulted in income of USD535,000 in 2015 as compared to provisions of USD284,000 in 2014, due primarily to a recovery of USD543,000 on a commercial participation loan
that was charged off in 2014.
The total project cost is up to US$30 million, including an equity investment of up to US$10 million in Secorse, and a US$20 million (in Mexican Pesos equivalent) income participation loan
from IFC s own account, which shall be used to fund the SPV.
AIDEA's participation loan
will provide long-term financing for one unit in the 10,368-square-foot building being constructed in several phases.
Thomas F Prisby, chairman and CEO of the bank said, 'This was the fourth consecutive quarter of positive earnings, as credit-related costs continue to moderate, and we are making good progress in exiting our purchased participation loan
Earlier this year, Centrix allocated $100,000 toward residential mortgages for MNHS through the Participation Loan
Pool Fund (PLP).
andUnivest Bank and Trust Co.The banks lent $80 million in a participation loan
in which Fulton was the lead bank, according to filings with the U.S.
Net charge-offs and provision for loan losses were significantly impacted by a $5.2 million loan charge-off, or $0.12 per diluted EPS, arising from a participation loan
agreement with a lead bank and other participating banks.
"We thank Greystone Bassuk, Union Bank and HFA for being tremendous partners in moving this project forward." The Union Bank financing, structured as a direct purchase of bonds together with a new conventional participation loan
issued by the New York State Housing Finance Agency ("HFA"), replaces the original construction facility provided by Citibank in 2013.
In April 2012, TAB Bank provided USD31.4m in credit facilities, including seven equipment leases for USD10.4m, 15 equipment loans for USD2m, a USD3m participation loan
and three A/R credit lines worth USD16m.
Securities and Exchange Commission, S&T said it is exposed to a credit loss "arising from a participation loan
agreement with a lead bank and other participating banks, all of which extended multiple credit facilities to a single, large commercial customer."